Boston Partners Boosts Stock Position in Aon plc (NYSE:AON)

Key Points

• Boston Partners has increased its stake in Aon plc by 4.2% during the first quarter, owning 2,121,607 shares worth approximately $844.5 million, making it the 15th largest position in their investment portfolio.
• Aon recently reported earnings of $3.49 EPS, exceeding expectations, along with a revenue of $4.16 billion, marking a 10.5% increase compared to the same quarter last year.
• The company announced a quarterly dividend of $0.745 per share, reflecting an annualized yield of 0.8%, with an ex-dividend date set for August 1st.

Boston Partners raised its position in shares of Aon plc (NYSE:AON - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,121,607 shares of the financial services provider's stock after buying an additional 85,609 shares during the quarter. AON comprises about 1.0% of Boston Partners' investment portfolio, making the stock its 15th largest holding. Boston Partners owned approximately 0.98% of AON worth $844,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AON. Financial Gravity Asset Management Inc. purchased a new position in AON during the 1st quarter worth approximately $28,000. HHM Wealth Advisors LLC grew its stake in shares of AON by 54.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider's stock worth $33,000 after purchasing an additional 29 shares during the period. Tsfg LLC acquired a new stake in AON in the 1st quarter valued at $37,000. Accent Capital Management LLC acquired a new stake in AON in the 1st quarter valued at $40,000. Finally, Garde Capital Inc. acquired a new stake in AON in the 1st quarter valued at $42,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group upgraded AON from a "hold" rating to a "buy" rating and raised their price objective for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. Wells Fargo & Company reiterated an "overweight" rating and set a $438.00 price target (up previously from $436.00) on shares of AON in a report on Thursday, July 10th. Piper Sandler lifted their price target on AON from $393.00 to $413.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods reduced their price objective on shares of AON from $414.00 to $409.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Citigroup assumed coverage on shares of AON in a report on Wednesday. They issued a "neutral" rating and a $402.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $410.69.

AON Price Performance

Shares of AON traded up $0.84 during trading hours on Friday, reaching $367.19. 1,181,059 shares of the company traded hands, compared to its average volume of 1,546,041. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $79.18 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83. Aon plc has a fifty-two week low of $323.73 and a fifty-two week high of $412.97. The stock has a fifty day simple moving average of $357.40 and a 200 day simple moving average of $370.60.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the company earned $2.93 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 1st. AON's dividend payout ratio (DPR) is 24.96%.

AON Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.